International Accounting - IFRS ILaajuus (5 cr)

Objective

In this course you will learn the basics of IFRS - International Financial Reporting Standards, which is the way how publicly listed companies prepare their group financial statements in over 120 countries. Additionally, we will study how to apply in practise the most important standards which usually differ with local accounting legislation.

Content

Planned implementation schedule, changes possible. Week 1: IFRS introduction Week 2: Consolidated financial statements Week 3: IFRS 15 Revenue recognition Week 4: IFRS 16 Leasing Week 5: IAS 36 Impairment testing Week 6: IFRS 9 Financial instruments Week 7: S1 and S2 Sustainability standards.

Qualifications

In order to take this course, you need to have prior knowledge on doing accounting and preparing financial statements, for ex you should have taken courses ECO002AS2AE Financial Accounting, ECO005AS2AE Financial Statements and Corporate Tax or ECO002AS2A Kirjanpito and ECO005AS2A Tilinpäätös ja yritysverotus or have similar knowledge. Course is challenging and there is a pretest to see that your accounting skills are good enough. Only students who pass the pretest (50% correct) can participate the course. Course requires a lot of work and ability to study independently as well.

Assessment criteria, satisfactory (1)

When the implementation type of the course is CONTACT, ONLINE or BLENDED it is required that the student is present during those teaching hours that are marked in the study schedule. If you are absent more than 25 %, your grade will be lowered by one. If you are absent more than 50 %, the course is failed. Knows the basics of IFRS standards, and is able to independently find some information about them. Is able to apply the standards in some practical life business cases.

Assessment criteria, good (3)

Knows the basics of IFRS standards and is able to independently find more information about them. Is able to apply the standards in practical real life business cases. Knows the basics of sustainability reporting according to required standards. Is able to participate discussions about IFRS standards using professional language.

Assessment criteria, excellent (5)

Knows the basics of IFRS standards and is able to independently find more information about them. Is able to apply IFRS standards in practical real life business cases and argument possible solutions with standards. Is able to select the correct sustainability reporting regulation for the company. Is able to actively participate in discussions about IFRS standards, providing informed opinions using professional language.

Assessment criteria, approved/failed

Pre-test to access the course. Exam/Moodle quizzes 70% Online proctored exam 30% (students are required to download the proctoring software and need to have cameras)

Materials

Melville, A. (2022). International Financial Reporting. 8th Edition. [Insert Publisher Location]: Pearson International Content. This can be found as an e-book in Haaga-Helia library. Other material provided by the teacher during the course.